Axis Bank Q2 PAT seen up 27% at Rs 932 cr

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Axis Bank Q2 PAT seen up 27% at Rs 932 cr

Axis Bank is to announce its second quarter results. According to CNBC-TV18's estimates, Q2FY12 net interest income (NII) is seen up 12% at Rs 1809 crore versus Rs 1615.1 crore.

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Axis Bank is to announce its second quarter results. According to CNBC-TV18's estimates, Q2FY12 net interest income (NII) is seen up 12% at Rs 1809 crore versus Rs 1615.1 crore.

Its PAT is seen up 27% at Rs 932.4 crore versus Rs 735.1 crore.

Slowdown in NII is likely due to

o         Lower loan growth

o         Goal is to protect NIMs after last quarter

o         NIMs in Q1: 3.28% Vs 3.44%

·          NIMs probably have bottomed out ((Last quarter, NIMs were the big disappointment for Axis))

o         Likely to improve QoQ

·          Advances growth likely to be muted

·          Slippages may see some increase putting pressure on asset quality

·          Provisions likely to increase from Q1 levels

·          Fee income growth expected around 26%